GTBank posts NGN189.57 billion net interest income in nine months

Guaranty Trust Bank

GTBank said its net interest income for the first nine months of the year rose to NGN189.57 billion compared to NGN132.75 billion disclosed in the year before.

The group’s profit before tax rose to NGN150.03 billion versus NGN137.99 billion disclosed last year.

interest income for the period rose to NGN284.2 billion in contrast to NGN181.9 billion posted in the previous year while its net interest income stood at NGN189.5 billion against NGN132.7 billion in the year before.

The bank also recorded NGN8.3 billion loan impairment charges in 2017 compared to NGN57.0 billion recorded in the fiscal year 2016.

Gtbank’s assets for the period under review increased to NGN3.2 trillion from NGN3.1 trillion disclosed within the same period 2016 while total liabilities stood at NGN2.6 trillion against NGN2.6 trillion in the year before.